US cloud security company Zscaler (Nasdaq: ZS) has announced that it is acquiring Israeli SaaS application security platform developer Canonic Security. No financial details were disclosed.
Canonic Security was founded in 2020 by CEO Boris Gorin and CTO Niv Steingarten and came out of stealth in February 2022 with a $6 million seed round.
Canonic’s platform is designed to prevent organizations' growing risks of SaaS supply chain attacks.
Gorin said, "While the SaaS ecosystem continues to grow, traditional CASB and SSPM solutions fall short to secure against the massive amount of supply chain attacks that are targeting organizations and their critical business applications. The combination of Canonic with Zscaler’s existing inline and out-of-band CASB and SSPM offerings is an ideal technology fit that will accelerate how enterprises address SaaS-native threats and simplify operations by reducing the number of tools for SaaS security."
Zscaler founder and chairman Jay Chaudhry added, "When I speak with the top global CIOs, they consistently express their challenges with efficiently securing supply chain logistics due to the massive blind spot in SaaS-to-SaaS communications. While protecting SaaS platforms is necessary with CASB and SSPM, enterprises must reduce the supply chain attack surface, detect SaaS-native threats and automate responses. The addition of Canonic augments our CASB and SSPM capabilities and further strengthens the growing set of services on the Zscaler Zero Trust Exchange, the world’s largest cloud security platform, and provides our customers with unprecedented visibility and security of their SaaS applications. I am pleased to welcome the Canonic team to the Zscaler family as we execute on our vision to advance SaaS security."
Published by Globes, Israel business news - en.globes.co.il - on February 15, 2023.
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